Annual "Watcha Worth" Poll

[Rich_by_the_Bay]

It's been a year since we last did this. There was much heated discussion about whether to include home equity, and it's in there this year.

So, shout it out: whatcha worth?

 

[OKLibrarian]

Hmm, first time I crunched the numbers with my pension included. Guess it is technically an asset now that you mention it. let's see what we get here...


OMFG...
*checks math*
OMFG...

three cheers for the civil service!

 

[igsoy]

just in case anyone was wondering (like I was), what if your pension will not be COLAed?

I seem to recall a past thread where it was suggested if you have a non-COLA pension, then use a lower 15X multiplier to figure present value. Does that sound familiar?

 

[FIRE'd@51]

just in case anyone was wondering (like I was), what if your pension will not be COLAed?

I seem to recall a past thread where it was suggested if you have a non-COLA pension, then use a lower 15X multiplier to figure present value. Does that sound familiar?

I was going to ask the same question. Certainly a non-COLA pension should not be multiplied by 25.

 

[Rich_by_the_Bay]

just in case anyone was wondering (like I was), what if your pension will not be COLAed?

For simplicity, I'd just add up the payments you expect to receive over your estimated life expectancy. Yes, I know they could compound, etc. but let's not put too fine a point on it.

 

[wabmester]

It's been a year since we last did this. There was much heated discussion about whether to include home equity, and it's in there this year.

Has it been a year already? It seems like just a few months...

last poll

 

[haha]

just in case anyone was wondering (like I was), what if your pension will not be COLAed?

I seem to recall a past thread where it was suggested if you have a non-COLA pension, then use a lower 15X multiplier to figure present value. Does that sound familiar?

Let's be careful here. As I remember this task tends to stimulate the OCD which lurks just below the surface in many of us.

Ha

 

[FIRE'd@51]

For simplicity, I'd just add up the payments you expect to receive over your estimated life expectancy. Yes, I know they could compound, etc. but let's not put too fine a point on it.

So, in effect, you are discounting the payments at 0%. That's 2% below TIPS. And these are guaranteed by actual companies.

 

[Rich_by_the_Bay]

Has it been a year already? It seems like just a few months...

That was a different series - this edition was last posted 3/17/06. A few differences, home equity included here and not there, different strata, etc.

Anything else is just an poor imitation .

 

[LOL!]

I found some lint in the folds of my wallet. Do I count that in my net worth?

 

[mja]

Well, that's mildly depressing. I'm the 26th respondent, and I'm the only one < 250k so far. Keep on keeping on

 

[martyb]

Look again!

 

[NinjaPigeon]

Well, that's mildly depressing. I'm the 26th respondent, and I'm the only one < 250k so far. Keep on keeping on

Don't feel bad. I'm under $100k But considering I was negative last year, I'm just happy to be in the black for this poll!

 

[wheel9]

What if your pension is capped at 2% per year - better than nothing.

 

[HFWR]

A nickel ninety-five...

 

[Texas Proud]

Funny thing is, including my home equity doesn't change my choice.... house is paid for, but Houston RE is cheap!!

 

[youbet]

Pensions should only be valued at what they are worth today, right? The value if you quit and walked off the job right now. Not the hypothetical value if you continue on for another 10, 20 or 30 years........

Only bringing this up because my hunch is youngsters early in their careers with the government or Megacorp may find their plans to stay until retirement will likely not come true. Or the pensions offered may change. Times are changing.......

 

[youbet]

What about the present value of a wife you plan on keeping shackled to the oar until she's 90? Just add up her atiicipated future paychecks?

 

[crazy connie]

What about the present value of a wife you plan on keeping shackled to the oar until she's 90? Just add up her atiicipated future paychecks?

Careful youbet... she may decide to cut the anchor line!

 

[youbet]

Careful youbet... she may decide to cut the anchor line!

Just hypothetical for me. Dw retired three years earlier than me. And didn't even consult with me first!

 

[Mwsinron]

WoW look at all the 2.5> :

 

[runchman]

I think we need a combo factor that takes into account your net worth and your age - kinda like BMI is for bodyweight. (although I think the BMI is primarily BS)

< 250k @ 25 years old, say, is kinda meaningless compared to > 2.5M at 65 years old.

Sounds like a spreadsheet project.....

- John

 

[justin]

I'm assuming that all my hundreds of thousands of dollars worth of debt is to be subtracted to arrive at a net worth? The formula presented in the poll question doesn't make this assumption explicit.

 

[dex]

WoW look at all the 2.5> :

I think the "(Annual Non-SS Pension*25)" part of the poll is important - most times people do not take it into account when computing their net worth. Now that I think about it I may have forgotten it in my caluculations and should be one catagory higher. If you add in Social Security the numbers would really jump.

I think it points out the how much wealth there is in this country. I think the news reports we get about the number of millionairs in this country are under reported. I think there are a lot of millionairs in this country who do not show it in their posessions.

 

[bbuzzard]

I think the upper half of the bell curve was overlooked.